The last time gold popped above $900 a couple of months ago and all the gold mining stocks surged upward, I happened to listen to Mo Ansari's radio show. Mo is market technician with a pretty good track record. Mo was asked by a listener if he had turned bullish on gold as it closed at $901 that day. Mo said (back then) that he would not change his outlook on gold until it closed above $903 for 2 consecutive days. $903 represented some moving average which I can't recall. In any event, gold could not hold $900 and gold mining stocks plunged after that.
We are now flirting with a close above $903. Wonder where the technicians like Mo stand today. How about it Scratchy?
I've never jumped into the technical camp myself. Fundamental outlook is just too compelling.